Wise investors are putting systems in place (including property managers and other service providers) so that these risks are mitigated without investor being involved.

One major consideration to take into account would be do the zoning, laws, HOA etc... allow for rentals in that neighborhood.

It seems to be these wealthy people in the room are either teachers who teach you how to run/operate specific types of business or are involved with overseeing you operate and formulate the deals you put together since they would be providing the capital for you.

Then you aren’t denying their service animal you are simply raising the rent a few hundred dollars/mo after a few months to account for “market conditions”. 

Buying a property without equity…. means that if you had to sell.. you will taking a loss equal to AT LEAST…all costs associated with selling.Selling a $400,000 property that was bought in the last two years means that AT BEST… the equity is equal to 75% of the down payment. ( this is a rough statement and anyone who wants to crunch the hard numbers is very welcome to post them)$400,000 buy… $$60,000 -$80,000 down… $24,000 to the buyers agent… and another $5000 for other closing costs.Starting balance ..is $370,000.New selling /asking price… =$450,000 depending on the region… good luckBuyer counters at $400,000 and the seller accepts…Minus the realtor fees $24,000 and some concessions…$10,000 ..Net is $366.000 Ok this is a very rough discussion.either provide tighter numbers or accept the drillThis seller got out lucky.And didn’t account for the interest paid out or the new carpet , paint dishwasher and sod.Buy a business with equity….

I got called by a guy today who has a gmail account and said he's a lender. 

They avoid accountability and as my manager often reminds our staff, "they are tenants for a reason".Recent applicant's bank statement showed she got $12k in income tax refunds.

What all needs to be accounted for in the agreement?

I think it was just called their "Accounts Receivable" card and my limit is $8500 which has been sufficient for my needs, but I could foresee wanting to up that in the next couple years.

However, I will say that my accountant has told me that he basically doesn't touch this stuff since it gets messed up too easily.